12/8/2003 - IDTTM (Integrated Device Technology, Inc.; Nasdaq: IDTI), a leading communications IC company, announced during its financial mid-quarter update teleconference that the Company expects its revenue to be at the high end of the previously forecasted range. The Company had projected revenues to increase sequentially by 1 to 5 percent from the prior quarter’s revenues of $80.8 million.
“We believe that the acceleration of the general economy and the increased demand for PCs and consumers applications is leading an improvement in communication infrastructure and storage systems,” said Greg Lang, president and CEO of IDT.
Webcast and Conference Call Information
Investors can listen to a live or replay webcast of the Company’s regular mid-quarter conference call at www.idt.com. The live webcast begins at 1:30 p.m. PST on December 4, 2003. The webcast replay will be available after 4 p.m. PST on December 4 through December 25, 2003. A taped telephone replay of the conference call will be available at (800) 475-6701 (access code is 706794) beginning at 5 p.m. PST on December 4, 2003 and will be accessible until 9 p.m. PST on December 25, 2003.
IDT stock is traded on the Nasdaq Stock Market® under the symbol “IDTI.” The company is included in the S&P 1000, which is a combination of the S&P MidCap 400 and S&P SmallCap 600 Indices, and is also part of the S&P SuperComposite 1500, which combines the S&P 500, MidCap 400, and SmallCap 600. Additional information about IDT is accessible at www.idt.com.
IDT is a global leader in preemptive semiconductor solutions that accelerate packet processing for advanced network services. IDT serves communications equipment vendors by applying its advanced hardware, software and memory technologies to create flexible, highly integrated products that enhance the functionality and processing of network equipment. IDT accelerates intelligent packet processing with products such as network search engines (NSEs), programmable content inspection engines (CIEs), flow-control management (FCM) ICs and its family of InterpriseTM integrated communications processors. The portfolio also comprises products optimized for communications applications, including telecom products, FIFOs, multi-ports, and timing solutions. In addition, the product mix includes high-performance digital logic and high-speed SRAMs to meet the requirements of leading communications companies.
Headquartered in Santa Clara, Calif., the company employs approximately 3,100 people worldwide and has a wafer manufacturing facility in Oregon, and test and assembly facilities in the Philippines and Malaysia. Forward-looking statements in this release involve a number of risks and uncertainties including, but not limited to, global business and economic conditions, product demand, manufacturing capacity and costs, competition, pricing, patent and other intellectual property rights of third parties, timely development and supply of new products and manufacturing processes, availability of capital, cash flow and other risk factors detailed in the Company’s Securities and Exchange Commission filings. Actual results may differ materially from the Company’s projections.
IDT and Interprise are trademarks and the IDT logo is a registered trademark of Integrated Device Technology, Inc.
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